March 10, 2013

The Tangshan
Iron and Steel Company Ltd (also referred as “Tanggang”), the flagship company of
China’s largest steelmaker, Hebei Iron and Steel (HBIS) Group, the second
largest producer of steel in the world, signed an agreement with the Austria based Siemens VAI
Metals Technologies Co, on 5th March 2013, covering cooperation in
technology and innovation.

The agreement calls for SiemensVAI Metals Technologies,a world leader in solutions, technology and services to the
mining, iron and steel making sectors, to provide consulting services
for Tangshan Iron and Steel to improve energy efficiency in its iron making. Siemens
VAI is a
part of the Industry Sector of global engineering major Siemens AG (Munich,
Germany).

Yu Yong, Tangshan Iron and Steel's president, said
that technology innovation and cooperation is inevitable for enterprises in
iron and steel, especially in looking for new ways to deal with the intense
competition these days. The cooperation here is expected to help Tangshan Iron and
Steel develop internationally. It is Hebei’s first company to cooperate
technologically with an advanced global enterprise.

Tanggang (Tangshan Iron and
Steel Company Ltd)
was established in 1943, the original place of the side-blown basic steel
converter of China. Tanggang executed a “Three-Step” strategy of development to
make a technical innovation on iron, steel and steel rolling, modified the old
plants, combined the peripheral plants and quicken the strategy of development
of Caofeidian in the “Ninth-Five years” and “Tenth-Five years”, becoming one of
the Ten Million Tons Iron and Steel Group in 2005.

Tangshan Iron and Steel Company Ltdhas an annual
production capacity of around 15 million tons. The products cover four
categories: plates, rods, lines and sections, with a total of more than 140
varieties and more than 400 kinds of specifications. The main products are
hot-rolled sheet, cold rolled thin plate, galvanized sheet, color-coated sheet
medium and thick plates, stainless steel plate, bar, wire rod, sections, all
that have passed the EHS. In recent years Tangshan Iron and Steel has made
environmental improvements in power consumption, water use and by-product
recycling.

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